Reduce loan interest rates, push capital into production at the end of the year

loan 2 — Commercial banks in Da Nang city are speeding up lending, pushing capital into production and business at the end of the year. Photo: QUANG VIET

Reduce loan interest rates

A series of commercial banks in the city are implementing loan packages with low interest rates.

BIDV applies a fixed interest rate of 5.5%/year for 3 years, loan term up to 40 years, especially no principal repayment in the first 5 years with loan up to 5 billion VND. VietinBank implements preferential interest rate from 5.6%/year for customers 20-35 years old. Vietcombank applies a starting interest rate of only 3.99%/year exclusively for customers over 35 years old.

According to Mr. Tran Ngoc Anh, Director of Agribank Quang Nam branch, the credit institution has recently implemented solutions to stabilize deposit interest rates, reduce loan interest rates, and share part of profits to support people and businesses to develop production and business.

Mr. Vo Van Duc, Director of Vietcombank Quang Nam branch, said that commercial banks continue to reduce operating costs, lower lending interest rates, widely inform lending interest rates, and facilitate customers to access preferential loans to promote production and business at the end of the year.

According to records, the average lending interest rate for new transactions of commercial banks is at more than 6.5%/year (down nearly 0.5%/year compared to the end of 2024).

Meanwhile, the average lending interest rate of the entire credit institution system has decreased sharply in previous years, specifically: compared to 2024, it decreased by 1.24%/year, compared to 2023, it decreased by 1.1%/year.

With the efforts of commercial banks to adjust interest rates, the interest rate level is expected to continue its downward trend in the last months of the year, contributing to supporting credit growth and promoting economic recovery.

According to the State Bank of Region 9, the decrease in lending interest rates is a positive signal. In the coming time, the State Bank of Vietnam will closely follow market developments and the domestic and foreign economic situation to promptly and effectively manage lending interest rates in the credit market, supporting economic growth.

Credit officers of Vietcombank Quang Nam branch advise customers on accessing loans to invest in production and business at the end of the year. Photo: QUANG VIET

Pumping capital into the economy

The director of a garment company in Ban Thach ward said that the end of the year, Tet is the main season so the company focuses on production and business. In addition to the domestic market, the company has promoted trade with a company in Taiwan so it will expand its production scale from now until the end of the year. Fortunately, Mr. Giang has accessed a large long-term loan from a credit institution in the area.

“Access to commercial bank capital is a necessary condition for economic investment. Since I do not have to pay the principal yet, I will invest in a new garment production line, improve technology to increase productivity, improve product quality, and increase product competitiveness to have stable revenue,” said Mr. Giang.

According to statistics from the State Bank of Region 9, the total outstanding loans in Da Nang city by the end of September reached approximately VND 429,000 billion (up 19.47% compared to the beginning of 2025). This is a very encouraging number when the State Bank of Vietnam set a credit growth target of 16% in 2025.

In particular, outstanding loans for trade and services amounted to more than VND312,000 billion (up 24% compared to the beginning of 2025). Agricultural and industrial lending sectors both grew by nearly 9% compared to the beginning of the year.

Priority lending sectors with preferential interest rates are funded by banks.

Agricultural and rural loans have outstanding loans of nearly VND 50,000 billion (up more than 9% compared to the beginning of 2025); export loans reached more than VND 5,000 billion (up 3.17% compared to the beginning of the year); loans to small and medium enterprises reached more than VND 87,000 billion (up 24% compared to the beginning of the year). Along with that, loans for high-tech agriculture and loans for supporting industries reached a fairly good level and are expected to increase sharply in the coming time.

Mr. Le Anh Xuan, Director of the State Bank of Region 9, requested credit institutions in the city to create favorable conditions for customers to borrow capital on the basis of simplifying procedures, loan applications, and collateral while complying with legal regulations.

Commercial banks in the area need to balance capital sources, meet credit capital needs for the economy, direct credit to production and business of people, enterprises and priority lending sectors; and remove difficulties for borrowers after the storm.

Units have stepped up the implementation of bank-business connection activities; in particular, reducing operating costs to lower lending interest rates, boost credit, and create a good growth momentum for the economy.

Source: https://baodanang.vn/giam-lai-suat-cho-vay-day-von-vao-san-xuat-cuoi-nam-3308873.html